Law: Energy Charter Treaty

The former majority shareholders of Yukos Oil Company have urged a UK court to reject Russia’s sovereign immunity defence to the enforcement of awards worth nearly US$60 billion, arguing the Dutch courts have already decided the underlying issue.

04 October 2023

The UK has invoked the Energy Charter Treaty’s denial of benefits provision to withdraw protections for special categories of Russian investors, including “mailbox” investors and those subject to the UK sanctions regime.

02 October 2023

Spain has applied to annul a pair of Energy Charter Treaty awards that held it liable to Japanese and Dutch investors over reforms to its renewable energy subsidy regime.

26 September 2023

The UK government has said it is considering withdrawal from the Energy Charter Treaty if signatories fail to adopt a modernised version of the treaty later this year.

01 September 2023

DECISIONS NOW PUBLISHED: The German Federal Court of Justice has held that EU member states can use the German courts to seek legal protection against intra-EU ICSID claims filed under the Energy Charter Treaty.  

27 July 2023

Portugal is considering exiting the Energy Charter Treaty after the European Commission called for a coordinated withdrawal of the European Union and its member states.

21 July 2023

The Swedish Supreme Court has refused to hear a Luxembourg fund’s appeal against the annulment of a €56 million Energy Charter Treaty award against Spain.

17 July 2023

A group of practitioners and academics have urged the US courts to enforce two Energy Charter Treaty awards against Spain worth a combined €333 million – arguing that a failure to do so would “seriously undermine the operation and legitimacy of the investor-state dispute settlement framework”.

11 July 2023

Following failed efforts to modernise the Energy Charter Treaty, the European Commission has formally called for the EU and its member states to withdraw from the treaty in a “coordinated and orderly manner”.

07 July 2023

Électricité de France has reportedly won a €29.6 million Energy Charter Treaty award against Spain over reforms to its renewable energy subsidy regime.

03 July 2023